ZUKIWORLD Online | Suzuki 4x4 Editorial and Forum
ZUKIWORLD Discussion Forum => Suzuki 4x4 Forum => Topic started by: ebewley on January 25, 2007, 08:28:53 AM
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Suzuki CEO sees long-term relationship with GM
Reuters / January 25, 2007 - 9:00 am
TOKYO (Reuters) -- The head of Suzuki Motor Corp. said today he had agreed with his counterpart at former parent General Motors to maintain their current relationship with a longer-term view.
Suzuki had bought back all but 3 percentage points of the 20 percent stake that GM had held in it to help the cash-strapped U.S. automaker last March, and the two had agreed at the time to leave an option for GM to buy back the shares for up to a year.
"We agreed to maintain the current relationship with a long-term, strategic view," Suzuki CEO Osamu Suzuki told a news conference, adding that he had met with GM CEO Rick Wagoner last November in Japan.
"It's not realistic to expect a company's finances to improve like magic after only a year," he added.
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Smoke and mirrors. Both sides know that GM won't buy back the shares, Suzuki is just helping them save face by making the offer.
:)
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Maybe this will free up ASMC to persue a more aggresive 4x4 that will compete against a GM offering (ie. H3, H4) or even Jeep. I always felt GM didn't like a full-bore 4x4, no less from a partner. They didn't accept the SJ413 as the orginal Geo Tracker, as the plan was originally (folklore)